Britain's Financial Services Authority has found a new group to blame for the financial crisis: naive traders spreading rumors
. It cites one example of a trader who "spread a piece of 'hot news' to 10 to 12 of his friends over a messaging system without making clear that it was a rumour. One of his contacts then did not hesitate to spread the message on to 150 of his contacts."
To counter the problem, the FSA is urging companies to adopt policies "on how to deal with rumours and monitoring chat sessions, phone calls and emails from traders."
Good thing it's tackling this problem. And once it's succeeded in making the stockmarket perfectly sane and rational, perhaps it would consider cleaning up the internet as well.
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